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Monday, 9 January 2017

Sensex, Nifty fall for 2nd day

Benchmark indices closed range bound session moderately lower on Monday as investors awaited December quarter earnings and macro data later in the week. The 30-share BSE Sensex was down 32.68 points at 26726.55 and the 50-share NSE Nifty fell 7.75 points to 8236.05 while the broader markets outperformed with the BSE Midcap and Smallcap indices rising 0.2-0.5 percent. Now all eyes are on third quarter earnings season (that will kick start by Infosys and TCS) and macro data (December CPI inflation and November factory data) that will be announced later in the week. Overall analysts will closely watch the impact of demonetisation on Q3 earnings while for IT companies, Q3 is generally a tepid quarter but their outlook will be key.